Organo Gold claims Vietnamese Ponzi used counterfeit product
Our research into Nguyen The Anh’s $13.7 million dollar Ponzi scheme left us with some serious questions.
Primarily, to what extent was Organo Gold aware its products were being used to promote financial fraud?
Shortly after publication we were contacted by one of Organo Gold’s Canadian attorneys.
According to Patrick Miranda, the Organo Gold coffee used to promote The Anh’s Ponzi scheme was counterfeit.
Phuc Gia Bao Investment & Trading JSC solicited investment between $540 to $1570, on the promise of a monthly ROI.
In addition to the ROI, investors were also given boxes of Organo Gold coffee. Vouchers, redeemable for Organo Gold branded coffee, were also available in lieu of the boxes.
With respect to Organo Gold’s products being used to promote The Anh’s Ponzi scheme, general counsel Patrick Miranda claims it was counterfeit.
When pressed on an explanation of how The Anh manufactured or obtained counterfeit product, Miranda stated he couldn’t
go into any further specifics as to our assistance with the DPP in Vietnam, suffice it to say absent our internal investigations and actions, this likely would never have come to the point it is at now.
or our part OG has always respected the law and continues to do so.
We will not jeopardize legal process by divulging the very information prosecutors will rely upon to obtain justice for those who were defrauded, simply to rebut your allegations of a lack of openness and transparency.
As you might get a sense of above, Miranda’s tone throughout our email exchange was unhelpfully hostile and combative.
Typically my engagement with MLM attorneys is fruitful. By way of providing additional information or clarification we’re able to add depth to our stories, which benefits them and the general public (our readers).
Miranda however appeared to be ruffled over having to reach out to us.
This article was forwarded to my Departments attention, and then up to me for handling.
I am General Counsel at Organo Gold, and am usually handed these matters after an author such as yourself has made inquiries of our CSR, Compliance or Legal Departments, as part of their actual diligence / investigative process.
Very seldom, if ever, do they originate internally as they did in this occasion; which perhaps begs the question as to the motive(s) of such an article; however, having said that, and allowing for the lack of sophistication of the given forum, Organo Gold would be willing to “respond” to the open-ended queries and somewhat reckless insinuations you have raised in your article, should you so wish.
Whereas people typically came to him, here he was having to explain Organo Gold’s own failure to address The Anh’s Ponzi and field questions – that apparently nobody had thought to ask until now.
I got the sense Miranda strongly felt this was beneath him. But I digress.
What triggered Miranda’s response above regarding being not willing to clarify, was specifically my pointing out that, despite The Anh’s Ponzi having collapsed almost three years ago, to date Organo Gold has not publicly addressed the incident.
Nor has there been any mention of counterfeit product in any of the local Vietnamese reporting, which was based on statements made by Vietnamese authorities since The Anh’s arrest in 2016.
To the best of my knowledge, Vietnamese authorities have not at any point publicly clarified whether the Organo Gold product used by The Anh was counterfeit.
Miranda claims The Anh was ‘never an authorized (licensed) Distributor of Organo Gold‘.
To rule out the possibility I was being wordsmithed, I put it to Miranda to
confirm that you are sure, with absolute certainty, that The Anh didn’t register as an offshore company or (go) through a third-party to obtain access to Organo Gold products?
That request went unfulfilled.
To clarify, I’m not doubting with any certainty the Organo Gold products The Anh used weren’t counterfeit. I have no reason not to take Miranda’s claims at face value.
With just assertions made by Organo Gold’s lead counsel and no supporting evidence or public corroboration from Vietnamese authorities, there’s still an air of doubt as to the specifics of this case.
Were the products in question counterfeit in the sense they were manufactured by a third-party, or were counterfeit in the sense they were actual Organo Gold products obtained outside of the company’s “authorized” distribution channels?
Rather than clarify the facts and provide a complete account on behalf of Organo Gold, Miranda instead prioritized criticism of our reporting and the broader media at length.
As I understand it The Anh and his accomplices are facing life in prison. The only charges that have been made public at this stage are those related to the operation of the Phuc Gia Bao Investment & Trading JSC Ponzi scheme.
If we see anything confirming the use of counterfeit product, either by way of specific charges or if Organo Gold decides to provide us with supporting evidence, we’ll keep you updated.